Wednesday, February 10, 2010

RealNetworks To Spin Out Rhapsody

Seattle-based RealNetworks and MTV Networks said Tuesday afternoon that they are looking to restructure digital music service Rhapsody into a new, independent company. According to the companies, the restructuring will make it so that RealNetworks will no longer have operating control over Rhapsody, and that there will not be a single majority owner of the venture. The companies said they would contribute intellectual property rights, with RealNetworks contributing operating capital, as part of the spinout.